Results of the Board of Directors on March 16, 2015
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on March 16, 2015.
The Board of Directors approved the report on insurance protection of RusHydro in 2014.
Insurance costs in 2014 totaled RUB 1,004,738 ths, which is 0.68% less than the planned amount.
The Board of Directors commissioned RusHydro’s representatives at the AGM of JSC TC RusHydro to vote for consolidation of Moscow Transport Company RusHydro LLC (MTC RusHydro) into the structure of JSC Transport Company RusHydro (TC RusHydro) and approved the agreement on consolidation.
RusHydro’s share in the share capital of TC RusHydro remains unchanged and amounts to 100%.
Restructuring of TC RusHydro through consolidation of MTC RusHydro is a part of integration of RusHydro’s transportation facilities in order to optimize costs, improve the efficiency of transportation services of the Company and its subsidiaries.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.